Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Iraq

Iraq

In Iraq, the revenue generated in the Cold & Cough Remedies market market is estimated to reach US$85.74m in 2024.
It is projected to experience an annual growth rate of 3.86% (CAGR 2024-2029).
When compared globally, the in the United States leads in generating the highest revenue in this market, amounting to US$11,190.00m in 2024.
In terms of per person revenues, in Iraq is expected to generate US$1.84 in 2024.
The demand for cold and cough remedies in Iraq has been increasing steadily due to the country's harsh climate and high pollution levels.

Key regions: Australia, Japan, India, Brazil, Canada

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Analyst Opinion

The Cold & Cough Remedies market in Iraq has been experiencing steady growth in recent years.

Customer preferences: In Iraq, customers have shown a growing preference for over-the-counter cold and cough remedies. This can be attributed to several factors, including the convenience of purchasing these products without a prescription and the increasing awareness of self-care among consumers. Additionally, the affordability of over-the-counter remedies compared to prescription medications has also contributed to their popularity.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Iraq is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of traditional medications and are seeking alternative options. This has led to a rise in the availability and sales of natural and herbal remedies in the market.Another trend in the market is the growing popularity of combination products. These products offer multiple benefits, such as relieving cold symptoms and soothing coughs, in a single formulation. This convenience factor has resonated with consumers, leading to increased sales of combination products.

Local special circumstances: Iraq has a high prevalence of respiratory infections, which contributes to the demand for cold and cough remedies. The country's dusty environment and extreme weather conditions make individuals more susceptible to respiratory illnesses. As a result, there is a constant need for effective remedies to alleviate cold and cough symptoms.

Underlying macroeconomic factors: The Cold & Cough Remedies market in Iraq is influenced by various macroeconomic factors. The country's population growth and increasing urbanization have resulted in a larger consumer base for healthcare products, including cold and cough remedies. Additionally, rising disposable incomes and improving healthcare infrastructure have made these remedies more accessible to a larger segment of the population.Furthermore, the ongoing COVID-19 pandemic has also had an impact on the market. The pandemic has heightened awareness about the importance of maintaining good respiratory health and has led to increased demand for cold and cough remedies as preventive measures.In conclusion, the Cold & Cough Remedies market in Iraq is growing steadily due to customer preferences for over-the-counter remedies, the increasing demand for natural and herbal products, and the popularity of combination products. The local special circumstances, such as the high prevalence of respiratory infections, contribute to the market's growth. Additionally, underlying macroeconomic factors, including population growth, urbanization, rising disposable incomes, and the impact of the COVID-19 pandemic, also play a significant role in shaping the market.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.